• As used in this part, unless the context otherwise requires:
    • (1) “Commissioner” means the commissioner of commerce and insurance;

    • Terms Used In Tennessee Code 49-4-101

      • Commissioner: means the commissioner of commerce and insurance. See Tennessee Code 49-4-101
      • Corporation: means a corporation or association not for profit authorized to administer a plan in the state. See Tennessee Code 49-4-101
      • Member: means any person who is accepted as a member by the plan and who may later become eligible for a scholarship as provided in the charter and bylaws of the plan. See Tennessee Code 49-4-101
      • Minor: means any person who has not attained eighteen (18) years of age. See Tennessee Code 1-3-105
      • Person: includes a corporation, firm, company or association. See Tennessee Code 1-3-105
      • Plan: means any educational cooperative plan or scholarship plan subject to this part. See Tennessee Code 49-4-101
      • Scholarship: means educational benefits payable pursuant to a plan which shall not be deemed to be distribution of income to a member of a corporation. See Tennessee Code 49-4-101
      • State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
      • Year: means a calendar year, unless otherwise expressed. See Tennessee Code 1-3-105

      (2) “Corporation” means a corporation or association not for profit authorized to administer a plan in the state;

    • (3) “Fiscal year” means the period beginning January 1 and ending December 31 of each year;

    • (4) “Member” means any person who is accepted as a member by the plan and who may later become eligible for a scholarship as provided in the charter and bylaws of the plan;

    • (5) “Plan” means any educational cooperative plan or scholarship plan subject to this part;

    • (6) “Recipient of scholarship” means any member who has been granted a scholarship by the plan;

    • (7) “Scholarship” means educational benefits payable pursuant to a plan which shall not be deemed to be distribution of income to a member of a corporation; and

    • (8) “Trustee of member” means the person or persons, including corporations, partnerships or other entities, that, on behalf of a minor, executes an application for membership in the plan.